FILE PHOTO: California Democratic gubernatorial candidate Gavin Newsom speaks after being elected governor of the state during an election night party in Los Angeles, California, U.S. November 6, 2018. REUTERS/Mike Blake/File Photo

(Reuters) – California Governor Gavin Newsom said Tuesday the state will not complete a $77.3 billion planned high-speed rail train, but will finish a smaller section.

“The project, as currently planned, would cost too much and take too long. There’s been too little oversight and not enough transparency,” Newsom said in his first State of the State Address Tuesday to lawmakers.

“Right now, there simply isn’t a path to get from Sacramento to San Diego, let alone from San Francisco to (Los Angeles). I wish there were,” he said.

Newsom said the state will complete a high-speed rail link between Merced and Bakersfield. In March 2018, the state forecast the costs had jumped by $13 billion to $77 billion and warned that the costs could be as much as $98.1 billion.